Vancouver, British Columbia--(Newsfile Corp. - May 22, 2014) - Investment firm Mackie Research has updated coverage on Tribute Pharmaceuticals Canada (OTCQB: TBUFF). Analyst Andre Uddin gives the company a speculative buy recommendation and reiterated his 12-month target of CDN$1.85, a premium of 176% to the US$0.60 price on May 15th, the day the report was issued.

InvestmentPitch.com has produced a “video research alert” about Tribute Pharma based on this report. If this link is not enabled, please visit www.InvestmentPitch.com and enter “tribute” in the search box.

Tribute is a Canadian specialty pharmaceutical company focused on the acquisition, licensing, development and management of pharmaceutical and healthcare products with its primary focus on the Canadian and U.S. market.

The company targets several therapeutic areas, but has a particular interest in products for the treatment of pain, dermatology, urology, endocrinology and specialty care.

Rob Harris, President and CEO stated, "We are pleased with our performance in the first quarter of 2014. With Tribute's recently expanded sales force now established, our objectives for upcoming quarters are to continue boosting sales of all our promoted products in Canada while also introducing new products in this market.”

Management and the board own 57% of the company, with Rob Harris, the CEO and President, and Scott Langille, the CFO, having more than 55 years of combined pharmaceutical industry experience.

Analyst Andre Uddin stated, “We expect sales growth and margins to improve, which should drive the company to be cash flow neutral by year end and positive in 2015. Any additional products in-licensed would be expected to be accretive.”

The shares are currently trading at US$0.54, well below Mackie Research’s target price of CDN$1.85, and with 51.4 million shares outstanding, the company is capitalized at US$95 million.

For more information, please visit the company’s website www.tributepharma.com, or contact Scott Langille, CFO at 905-876-3166, or by email at scott.langille@tributepharma.com. 

Investor relations is handled by Kevin Fickle at Nuwa Group. He can be reached at 925-330-8315, or email kevin@nuwagroup.com.

For more information about Mackie Research, or to obtain the report on Tribute Pharma, contact your nearest Mackie Research office. Their branches are listed on their website at www.mackieresearch.com. 

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